Markets end lower for fifth straight day

IIFL
2017-08-11 15:55:00
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The market ended in the negative territory for the fifth consecutive trading session wherein Nifty and Sensex ended at their one-month closing low level. Nifty closed at 9,711 level, down by 108 points while Sensex closed at 31,224 level, down by 307 points on Friday. Nifty breached 9,700 mark during the day to touch its intraday low of 9,685 level. Reliance and State Bank of India were top draggers for Nifty. All sectoral indices except pharma closed in the negative territory.

On the broader markets, BSE Mid-cap and BSE Small-cap indices witnessed choppy trade. After witnessing a gap-down opening, they moved to positive territory for some time in the afternoon but then they ended in the negative territory. BSE Mid-cap index closed at 14,726 level, down by 29 points or 0.2% while BSE Small-cap index closed at 15,064 level, down by 6 points or 0.04%.

Bank Nifty ended at 23,985 level, down by 231 points or 0.96%. State Bank of India announced disappointing Q1FY18 results which led to down in the stock price. It closed at Rs 280.35 per share, down by Rs 16.35 per share or 5.51%.

Cochin Shipyard had a decent debut even when the markets were trading down. The stock got listed at Rs 440.15 per share, up by 1.8% as against its issue price of Rs 432 per share. It breached its upper circuit during the day at Rs 528.15 per share, up by 20% or Rs 88 per share.

Tata Motors extended its losses to end at Rs 374.5 per share, down by 1.5%. Nifty Auto index closed at 10,457 level, down by 1.4%.

Major metal stocks also ended in negative territory with Nifty Metal down by 112 points at 3,216 level. Hindalco was the top loser on the index, it closed at Rs 222.25 per share, down by 6.62% or Rs 15.75 per share.